{"id":31112,"date":"2024-05-21T16:41:24","date_gmt":"2024-05-21T16:41:24","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/over-90k-traders-liquidated-amid-massive-crypto-price-surge\/"},"modified":"2024-05-21T16:41:24","modified_gmt":"2024-05-21T16:41:24","slug":"over-90k-traders-liquidated-amid-massive-crypto-price-surge","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/over-90k-traders-liquidated-amid-massive-crypto-price-surge\/","title":{"rendered":"Over 90K traders liquidated amid massive crypto price surge"},"content":{"rendered":"<p><b>(Originally posted on : CoinJournal: Latest Crypto News, Altcoin News and Cryptocurrency Comparison )<\/b><br \/>\n<\/p>\n<div>\n<div class=\"post-article-image  -mt-24  mb-8  lg:-mt-32  rounded  overflow-hidden\">\n<picture><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2024\/05\/crypto-price-btc-spike-smartcrop-750x375.webp\" type=\"image\/webp\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2024\/05\/crypto-price-btc-spike-smartcrop-363x181.webp\" type=\"image\/webp\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2024\/05\/crypto-price-btc-spike-smartcrop-750x375.jpg\" type=\"image\/jpeg\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2024\/05\/crypto-price-btc-spike-smartcrop-363x181.jpg\" type=\"image\/jpeg\"\/>\n<\/picture>                    <\/div>\n<ul>\n<li><span style=\"font-weight: 400\">Over $9o,000 traders were liquidated in 24 hours as Ethereum, Bitcoin prices surged to $3,800 and $71k respectively.<\/span><\/li>\n<li><span style=\"font-weight: 400\">Total liquidations reached $383 million, with $297 million in shorts and $86 million on longs.<\/span><\/li>\n<li><span style=\"font-weight: 400\">Market is upbeat about SEC approving spot Ether ETF after latest developments the regulator initiated late Monday.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400\">Coinglass data shows that more than 90,000 traders were liquidated in the past 24-hours, with total liquidations reaching $383 million.<\/span><\/p>\n<p><span style=\"font-weight: 400\">The spike in prices for Ethereum, Bitcoin, Dogecoin and other tokens saw over $297 million in short positions liquidated. Longs accounted for about $86 million in liquidated positions as crypto prices skyrocketed late Monday and on Tuesday.<\/span><\/p>\n<p><a href=\"https:\/\/www.coinglass.com\/LiquidationData\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-205236\" src=\"https:\/\/coinjournal.net\/wp-content\/uploads\/2024\/05\/crypto-liquidations-coinglass-data.png\" alt=\"\" width=\"789\" height=\"417\"\/><\/a><\/p>\n<p><span style=\"font-weight: 400\">According to <a href=\"https:\/\/www.coinglass.com\/LiquidationData\" target=\"_blank\" rel=\"noopener\">Coinglass<\/a>, the total number of liquidated traders reached 93,833 at 11:40 am ET on Tuesday. The largest liquidation happened on BitMEX, with an XBTUSD trade worth $4.26 million liquidated.<\/span><\/p>\n<h2><span style=\"font-weight: 400\">Ethereum traders see over $100 million in short liquidations<\/span><\/h2>\n<p><span style=\"font-weight: 400\"><a href=\"https:\/\/coinjournal.net\/news\/tag\/ethereum\/\">Ethereum (ETH)<\/a> led the 24-hour liquidation as the top altcoin\u2019s spike to above $3,813 on May 21 saw over $131 million rekt. This included a total of $104.5 million in shorts and $26.5 million in longs.<\/span><\/p>\n<p><span style=\"font-weight: 400\">As well as Ethereum, <a href=\"https:\/\/coinjournal.net\/news\/tag\/bitcoin\/\">Bitcoin (BTC)<\/a> also recorded a significant spike in its price.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">The benchmark crypto jumped from lows of $67k on Monday to hit highs of $71,650 on Tuesday. The gains led to the liquidation of positions worth over $106 million, including $88 million in shorts and $18 million in longs.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Solana (SOL) saw a total of nearly $24 million, with shorts accounting for over $17.9 million and longs $5.9 million.<\/span><\/p>\n<p><span style=\"font-weight: 400\"> Other tokens to see notable liquidations in the past 24 hours are Dogecoin (DOGE) with $10.2 million, Pepe (PEPE) with $7 million and Gala (GALA), which suffered a <a href=\"https:\/\/coinjournal.net\/news\/gala-ceo-points-to-messed-up-internal-controls-in-200-million-exploit\/\">major security breach<\/a> on Monday.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Over $2.69 million short positions and $2.1 million worth of longs have been liquidated in the past 24 hours, although Gala has received a bullish forecast from market maker DWF Labs, which announced the purchase of 25 million GALA tokens.<\/span><\/p>\n<h2><span style=\"font-weight: 400\">SEC\u2019s potential approval of spot Ether ETF boosts bulls<\/span><\/h2>\n<p><span style=\"font-weight: 400\">The huge liquidations come as fresh sentiment around spot Ethereum ETFs approval lifted the crypto market.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">This followed SEC\u2019s request for Ether ETF issuers to file their 19b-4s by 10 am on May 21, a development that has seen Bloomberg ETF analysts <a href=\"https:\/\/x.com\/EricBalchunas\/status\/1792636523050906102\" target=\"_blank\" rel=\"noopener\">increase their odds<\/a> for a SEC approval from 25% to 75%.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Standard Chartered Bank\u2019s Geoff Kendrick <a href=\"https:\/\/coinjournal.net\/news\/standard-chartered-anticipates-spot-ethereum-etfs-approval-this-week\/\">said in a note on Tuesday<\/a> that there\u2019s a possibility of the SEC greenlighting the first spot Ethereum ETF for the US market this week.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Standard Chartered also predicts that ETH price could spike to $8,000 by the end of the year. <\/span><\/p>\n<p><span style=\"font-weight: 400\">In March, analysts at the bank <a href=\"https:\/\/coinjournal.net\/news\/standard-chartered-raises-2024s-btc-forecast-to-150k-projects-250k-in-2025\/\">projected Bitcoin could surge to $15ok in 2024<\/a> and $250k by end of 2025 on the back of ETF traction.<\/span><\/p>\n<div class=\"post-meta\">\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Share this article<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Categories<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Tags<\/h6>\n<\/p><\/div>\n<\/p><\/div>\n<p><a href=\"https:\/\/coinjournal.net\/news\/over-90k-traders-liquidated-amid-massive-crypto-price-surge\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : CoinJournal: Latest Crypto News, Altcoin News and Cryptocurrency Comparison ) Over $9o,000 traders were liquidated in 24 hours as Ethereum, Bitcoin prices surged to $3,800 and $71k respectively. Total liquidations reached $383 million, with $297 million in shorts and $86 million on longs. Market is upbeat about SEC approving spot Ether [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":31113,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/31112"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=31112"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/31112\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/31113"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=31112"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=31112"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=31112"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}